On January 2, 2012 a business purchased equipment for $120,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $20,000. Business uses the units-of-production method for measuring depreciation What is the amount of depreciation expense for 2014, if in that year the business uses the asset for 6,000? Select one: a. $25,000 b. $24,000 c. $20,000 O d. $30,000